Clarity of
financial policies which are well thought out and adhered to are essential for sound financial management in academies.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in
which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over
financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government
policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Those federal rules,
which double down on restrictions adopted in 2014 and stern warnings to lenders issued by OSFI earlier this summer, require banks to qualify borrowers at higher interest rates, impose additional limits on mortgages for buyers with small down payments, and compel
financial institutions to share the risk by taking out insurance
policies on low - ratio mortgages.
Poloz's press conference followed the release of the central bank's December
Financial System Review,
which concluded that a record household debt burden makes Canada vulnerable to a housing crash, although
policy makers see little reason to think that will happen.
Nancy Conneely, director of
policy at AccessLex Institute,
which provides
financial education to students and schools, applauded the funding.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in
which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including
financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel,
financial condition of commercial airlines, the impact of weather conditions and natural disasters and the
financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock,
which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in
which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade
policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade
policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017,
which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in
which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective
financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
He comes to the position amid a critical time for the Fed,
which is normalizing
policy after years of extraordinary accommodation triggered by the
financial crisis.
Genworth
Financial (GNW),
which provides life and long - term care insurance, screwed up a while back when it began selling
policies to cover medical expenses in old age: It did not charge nearly enough for them.
One factor keeping premiums down is the
financial crisis,
which reduced overall demand for health care
policies, Meyerhoefer says.
Trump's discussion of
financial industry rules came ahead of a planned executive order directing the Treasury Department to review the
policy,
which was passed as a
financial industry safeguard after the 2008 crisis.
That gloomy question was behind Thinking the Unthinkable, a study of British public
policy options by noted British
financial firm Tullett Prebon —
which was brave enough to ask the question that U.K. politicians have been avoiding like the plague: «Might there be no way out for Britain?»
Frenkel criticised the ineffectiveness of governments since the
financial crisis of 2008
which forced central banks to take their place in the «front line» of
policy making, he said at an event in London on Tuesday.
Medium - term risks are still elevated as
financial vulnerabilities,
which have built up during the years of accommodative
policies, could mean a bumpy road ahead and put growth at risk.
The housing bubble in the United States,
which triggered the
financial crisis in 2008, had highlighted the danger of using the
financial system to make up for the failures in social
policies.
In the Doug Purvis Memorial Lecture, Governor Stephen S. Poloz shows how changing the mix of monetary and fiscal
policies can yield the same outcomes for growth and inflation, but lead to different results for public sector and private sector debt levels,
which can impact
financial stability.
The
financial intermediation process and the creation of credit is the primary channel through
which monetary
policy affects the economy.
But he gave up that position in 2013 to take the gavel on the House
Financial Services Committee,
which has allowed him to reshape regulatory
policy.
Many central banks, especially during the most acute phases of the crisis, also employed
policies known as «credit easing,»
which involves purchases of private sector assets in certain credit markets that are important to the functioning of the
financial system but are temporarily impaired.
The relationship between monetary
policy and
financial stability may depend on the specific economic conditions in
which we find ourselves.6 Moreover, the processes resulting in
financial cycles, with periods of unsustainable debt buildup, occasional crises and periods of deleveraging, are not well captured by standard models.7 We have more work to do before we can be fully confident about our conclusions.
The fifth, and most recent, factor is the US Federal Reserve's signals that it might end its
policy of quantitative easing earlier than expected, and its hints of an eventual exit from zero interest rates, both of
which have caused turbulence in emerging economies»
financial markets.
These are the types of
policies that are being developed to minimize the risks posed to the global
financial system by banks
which are too big to fail.
Consult your investment professional to find out if this whole life insurance
policy,
which features a death benefit, is the right product for your
financial situation.
The bottom line is that the American public is being fed a carefully crafted mythology (no doubt «market tested» on «response groups» to see
which images fly best) to mislead the American public into misunderstanding the nature of today's
financial problem — to mislead it in such a way that today's
policies will make sense and gain voter support.
In one of its
Financial Services
Policy updates, Google has decided to ban advertisements promoting cryptocurrencies and the related content
which includes initial coin offerings (ICOs), cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice, starting from June this year.
However, Andy Blocker, executive vice president of
policy and advocacy at the Securities Industry and
Financial Markets Association, told ThinkAdvisor Friday that the memo «fails to address the potential impact» of DOL's redraft «on everyday investors,
which has been our concern all along.»
The three main areas where my direct advice went unheeded were the following: (1) the need for large - scale
financial assistance [29] for Russia,
which I deemed (and still deem) to have been essential to molding a political consensus around reforms, and to bolstering the
financial situation enough to achieve a modicum of success in the fight against hyperinflation; (2) the need for strong monetary and fiscal
policy to achieve a rapid end to inflation [30]; and (3) the urgency of establishing a social safety net [31], especially in health care and pensions, to ensure an adequate social and political base for societal transformation and democratization.
The decision by the U.S. Federal Reserve to move away from its quantitative easing
policy — in
which the central bank creates billions of dollars to buy
financial assets each month — comes amid signs the American economy is beginning to heat up,
which would boost demand for Canadian imports.
Renters insurance,
which is a type of
policy called an HO - 4, gives you some
financial protection against natural disasters or common theft that can affect your living space and things.
Any change in
policy and
financial conditions carries with it at least some chance of setting off instability
which could snowball given the current high degree of illiquidity in many markets.
When the
financial crisis hit the markets in 2008, the Federal Reserve embarked ultra easy monetary
policy,
which included cutting short - term interest rates to effectively 0 % while suppressing longer term interest rates through the purchases of long term Treasury debt and mortgage - backed securities — a program informally referred to as quantitative easing.
Monetary
policy —
which has been a boon for stocks since the
financial crisis — also remains loose compared with historical standards.
The company's dividend
policy is linked to operating cash flows,
which ensures that the company distributes money to shareholders without harming its long - term
financial stability.
Loose monetary
policy, including so - called quantitative easing through
which central banks create new money to buy
financial assets in the secondary market, has failed to spark a recovery because the world is awash in debt.
Under the BICE,
Financial Institutions (
which today are insurance companies, banks, broker - dealers, and RIAs) must adopt and warrant that their advisors comply with compliance
policies and procedures that are reasonably and prudently designed to prevent conflicts from causing any violations of the Impartial Conduct Standards fiduciary.
Dudley explained to the press that one reason to tighten monetary
policy is to tighten
financial conditions,
which were more loose than policymakers» expectations:
The Fed's FOMC is concluding another two - day meeting today and will issue its latest
policy statement around 2 p.m. EST, as the idiots on
financial tv sit on the edge of their seat trying to figure out
which word or syllable has changed from the last
policy decision statement.
It publishes four Statements on Monetary
Policy each year, which contain a detailed analysis of the economy and financial markets, and an account of the considerations for the policy stance adopted by the
Policy each year,
which contain a detailed analysis of the economy and
financial markets, and an account of the considerations for the
policy stance adopted by the
policy stance adopted by the Bank.
PNC was included in the 2017 Bloomberg
Financial Services Gender - Equality Index,
which recognizes companies for their employee
policies, gender - conscious product offerings and community support.
This research,
which was honoured with the William F. Sharpe Award for Scholarship in
Financial Research, was completed during a particularly relevant time when the Securities and Exchange Commission and the Committee of European Securities Regulators were evaluating their market information disclosure
policies.
«Powell is closely associated with the dovish
policies of the last number of years and he has publicly been quite supportive of those
policies which have been an elixir for the
financial markets.»
SAN FRANCISCO (January 13, 2016)-- Glass Lewis today announced the appointment of Dr. Bonnie Hill to its Research Advisory Council,
which comprises experts on corporate governance, accounting, law,
financial transparency and regulatory matters and guides the development of Glass Lewis» proxy voting
policies and guidelines.
He raised Yellen's ire by arguing that the Fed should temper its efforts to minimize unemployment because those
policies encourage
financial risk - taking,
which can undermine long - term growth by destabilizing markets and causing new crises.
In December 2013, the PBOC published
financial policy guidelines under
which companies established in the FTZ can conduct centralized payments and collections between associated onshore and offshore entities.
Years of central bank
policies of easy money have caused short - term interest rates to remain below inflation — aptly called
financial repression —
which has penalized savers.
First, it is critical for regulators to complete their efforts at implementing a macroprudential approach to enhance resilience within the
financial system,
which will minimize the likelihood that monetary
policy will need to focus on
financial stability issues rather than on price stability and full employment.
So, for example, my colleague Don Kohn, who was the vice chairman of the Fed when I was there, is a member of the British
financial policy committee,
which tries to identify such problems and, when it does, it makes recommendations to the parliament to impose restrictions.
But the roots are global as well and at least one of the roots is
financial repression
which is the major central bank's
policies over the last nine years of recovery to drop interest rates to zero to buy risk assets, to push investors into risk assets and generate a lot of liquidity and credit.
The stance of monetary
policy is expressed in terms of a target for the cash rate — that is the interest rate on overnight loans between
financial institutions,
which is determined in the cash market.
Policy tightening has mainly targeted the «shadow»
financial sector, smaller banks and non-bank lenders,
which hold debt more than twice the economy's size.
Rather than hold onto outmoded ideas ideas like the Phillips Curve,
which may have made sense when the US was a more insular economy, there are better ways to think of monetary
policy from a structural standpoint of how
financial firms work.